POLICE QUESTION SYNDICATE BOSS
Mike sTANLey, the owner of a betting syndicate closed down following a Sportsmail investigation, was questioned by police yesterday. The 62-year-old, a former kent Police officer and the man behind Layezy racing, attended a police station while a search was carried out at a property near Maidstone. it is understood a number of syndicate members turned up to demand answers from Mr stanley as he left for the police station. Mr stanley shut down the syndicate and filed for bankruptcy following our investigation, which found that nearly £2million invested in the syndicate had been used by Mr stanley without members’ knowledge to buy and train 23 horses in the last year. it also raised concerns that syndicate members may have lost tens of millions of pounds in savings. Last week, all the horses owned by the Layezy racing club were banned from running by the British Horseracing Authority. Administrators at Duff & Phelps confirmed earlier this month that they had been appointed the trustees in Mr stanley and Layezy’s bankruptcy. it is feared that the shortfall between the assets of Mr stanley and the syndicate and what members claim they are owed could be £70m. Mr stanley declined to comment.